All Forum Posts by: Daria B.

Looking for some guidance -- I'm selling a house that I rehabbed. It has a detached garage and workshop that has some peeling paint. The first FHA inspector/appraiser did not make an issue of it. The second appraiser is now saying that the paint is an issue and needs to be fixed before the buyer can move forward with the loan. They house is build pre-1978. Any thoughts on how to handle this? Is the only solution to scrape and repaint?

should i get a couple pre paid flip phones? 

Thanks Daria! Did he fill it out with his personal name or under an LLC?

I am new to investing (focused just on flipping right now)and have never run a small business. Through books I've read recommended on Bigger Pockets and researching, I know that you need to have independent contractors fill out a W-9 and then send them a 1099 at the end of the year.  I have a couple of questions that for some reason my accountant can't seem to clarify for me.

1.) How do you know which contractors you use need to fill out a W-9? For instance, I know that a couple of my general contractors have their own LLC and are smaller companies and therefore probably need to fill them out. If I use a large company for HVAC or something, I imagine they don't need to fill out a W-9. I was wondering if there is a definitive way to know who to have fill out a W-9 so I don't just throw them at everyone like my accountant suggests.

2.) If I am using a general contractor to manage my whole project and the cost of the subcontractors that he uses are rolled into his lump sum fee that I pay over scheduled increments, do I just have the general contractor fill out a W-9 since I am only issuing checks to him?

3.) When filling out Independent Contractor Agreements, do I literally have each subcontractor fill one out?  And again, if my GC is managing everything, do I need to have all of his subs sign an Independent Contractor Agreement or is it covered under the one the GC signs since I am just paying him?

Sorry for questions that I feel are probably very basic, but I've been unsuccessful in searching the forums, searching online, and in talks with my accountant.

Thanks!